Buy Rating Affirmed for Compass Therapeutics on Strong Financials and Promising Clinical Trials

Compass Therapeutics (CMPX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on the stock and has a $10.00 price target.

Joseph Pantginis has given his Buy rating due to a combination of factors, including Compass Therapeutics’ solid financial position and promising clinical trial updates. The company reported better than expected first quarter results for 2024, with a smaller loss per share than anticipated. Additionally, they have a substantial cash reserve, which is expected to sustain operations well into late 2026. This financial stability provides a secure foundation for the company’s ongoing research and development efforts.
Further, Compass Therapeutics is advancing a robust pipeline, with several key milestones expected in the near future. Particularly noteworthy is the progress of their lead assets: CTX-009, CTX-471, and CTX-8371, which are all moving through various stages of clinical development. Upcoming top-line data from phase 2 trials in colorectal cancer and the initiation of a combination study with paclitaxel in biliary tract cancer are among the developments that could potentially validate the company’s therapeutic approach and drive value. These factors collectively underpin Pantginis’s positive outlook on the stock.

Pantginis covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Palatin Technologies, and Viking Therapeutics. According to TipRanks, Pantginis has an average return of 12.7% and a 40.76% success rate on recommended stocks.

In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $10.00 price target.

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Compass Therapeutics (CMPX) Company Description:

Compass Therapeutics Inc is a clinical-stage biopharmaceutical company. The firm is developing proprietary antibody therapeutics intended to engage the immune system to treat both solid tumors and hematological malignancies. Its pipeline product candidates are CTX-471/ CD137 agonist and CTX-8371.